Retiring young?

[GlenSausio]

I'm 40 and can pack it in at the end of the year with a modest residual income- enough to live on with a couple of European holidays per year. House paid off.

But even though I don't enjoy the work anymore- I can't bin this gig - it's like I'm cutting off my own hand. After having played the game for a long time, I find my brain won't let me stop.

Will you be dragged off site in a body bag? Or, have you got a figure in mind?(I keep moving that figure..)

[d000hg]

I was thinking only today that with only a (relatively) modest residual income - say £30k - I'd probably be happy just bumming around. I used to think I'd never be able to give up coding and to be honest I imagine I would return to doing it for fun - making games or something - but sitting in coffee shops reading a book or mucking about doing some music things would be quite nice for a year or two.

[RSoles]

(I keep moving that figure..)

Unfortunately, so do the govermin............

[KentPhilip]

I'm 40 and can pack it in at the end of the year with a modest residual income- enough to live on with a couple of European holidays per year. House paid off.

Just curious - what lump sum do you have, and how much annual income does that generate? How have you invested it in order to generate that income?

I'm in a similar position myself and wondering whether to fork offski to the far east for ever.

[GlenSausio]

Just curious - what lump sum do you have, and how much annual income does that generate? How have you invested it in order to generate that income?

I'm in a similar position myself and wondering whether to fork offski to the far east for ever.

I don't want to post bank details but my residual income (inflation hedged) will be about 300 pounds a week after tax and costs. I can live pretty well on that- I've always lived well within my means. In 20 years my private pension kicks in, which will double that income, at today's pension forecast.

Mainly, I've made my money in contracting in the last 10 years. Not through investment.

[tomtomagain]

I'm 40 and can pack it in at the end of the year with a modest residual income- enough to live on with a couple of European holidays per year. House paid off.

But even though I don't enjoy the work anymore- I can't bin this gig - it's like I'm cutting off my own hand. After having played the game for a long time, I find my brain won't let me stop.

Will you be dragged off site in a body bag? Or, have you got a figure in mind?(I keep moving that figure..)

So you have worked so hard that you cannot imagine life without working?

Suggest you get out of it quick!

[alreadypacked]

I'm 40 and can pack it in at the end of the year with a modest residual income- enough to live on with a couple of European holidays per year. House paid off.

But even though I don't enjoy the work anymore- I can't bin this gig - it's like I'm cutting off my own hand. After having played the game for a long time, I find my brain won't let me stop.

Will you be dragged off site in a body bag? Or, have you got a figure in mind?(I keep moving that figure..)

Maybe, you could become a real contractor, work 6 months, travel 6 months.
I did a few years working 6-9 months, then renting a house on the beach for the winter. Then people started paying me to "work from home" on the beach, now I am sucked in again. But end of next year I am going to try it again.
These days you don't have to say The End, you can do what you want. But I would not sell up in the UK, I would just rent out the house.

[Dallas]

I am heading that way and have started looking at options and what other people are doing rather than bumming around, its fascinating outside of this industry.

I have a friend, freelance photographer, works 4 days a month to keep herself ticking over. One chap at old gig bought a house outright then went to thailand for 15 years to live as a monk, just got back, doesnt need to work.
Old neighbours relocated to spain and opened a B&B and are at the mercy of their guests.

I keep looking at night-school options and re-training in civil engineering or product design but I dont want that to surface as a Kelly Hoopen, 'here are 3 beige cushions to match your neutral tones'....

I think its important not to stagnate, when my parents first retired I think they spent the first few years hiding in guilt. They have turned that around now but the folks they buddy up with are alot older than them.

[scope]

I don't want to post bank details but my residual income (inflation hedged) will be about 300 pounds a week after tax and costs. I can live pretty well on that- I've always lived well within my means.

I take it you dont have a family if £300 a week is something to live pretty well on.. And if not, assuming you will never marry/have kids is a big gamble, so you might find yourself needing more money later on..

Also, personally I would go mad watching Jeremy Kyle and Loose Women every day, with only the odd holiday to look forward to throughout the year..

[d000hg]

£300 is quite a lot for week-to-week spending but it rather depends if that includes amortised costs for mortgage, holidays, unexpected house/car costs, etc?